Money matters

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Re: Money matters

Postby Roger Ramjet » Thu Jan 21, 2016 2:54 pm

pipoz wrote:Who knows where the Aussie Dollar will be in the world markets in 2 or 3 years time

Having lived through all the ups and downs of the Aussie dollar serving besides the Yanks in Vietnam (MPC or Military Payment Currency) the Ringgit, Malaya and Malaysia, the Singapore dollar.... at one stage pegged to the Ringgit (3-1 to the Aussie dollar) I do know that the Aussie dollar performed best when Australia invested in itself (Infrastructure and people) and exported to Europe and America and Asia. The flying green Kangaroo and Made in Australia meant a lot in those days and people used to hunt the shelves for Aussie made products. Like SPC Ardmona Baked Beans.
Like all things good, it had to come to an end when greedy people got greedier and started having the same stuff made overseas because they could do it cheaper and make greater profits. The product wasn't quite so good or unique, and it fell apart quickly, but who gave a crap, it was cheap. Can you imagine not buying an Akubra hat not made from rabbit's fur. Or an RM Williams shirt not made in Australia, or a pair of Blundstone boots made in China. I can't, but its happened because Australia let it happen with greed in their eye.
I recall all the meat coming out of Australia was slaughtered in Australia, but ethnic minorities in other countries claimed they wouldn't buy it, so we shipped the meat live, so they could do it. And when things like Aussie built submarines, boats and other similar industry encountered cost over-runs they blamed the unions every time, yet it was not the unions but the managers and government who caused the cost over-runs with late design changes and 30% pay rises with free shares each year that cost the taxpayer.
I used to pay tax on my wages/pension, even when I was in and out of Australia. I didn't like it, but I paid. The politicians have sold Australia and they've sold it cheap because the big companies put on pressure. You wouldn't have sold a Chinese dirty company with links to the Communist government 1 million acres of land around Woomera Rocket Range (Restricted Area) in the old days, the law didn't allow it, but that's what they are considering doing today. Why?
Who gives a crap about the US dollar and it's worth (besides you, because you get paid in US dollars), The world has a free floating market economy at the moment so you can buy the cheap, mean and nasty stuff instead of a quality product.
The only reason the Aussie dollar has "lost" money, which it hasn't, is because we under-rated our own products and services and the greedy politicians sold us cheaply at the behest of a quick buck and to make themselves look good.
The reason I posted the article was not about where to put your money, but where not to....oil and major oil producing countries. Oil prices should never have gone over $12 a barrel, ever. I get sick of seeing very expensive cars with no Thai rego on the streets of Bangkok driven by oil rich nations' nationals, knowing that their gain was by inflating prices and our loss for the greedy politicians letting them.
There's nothing mysterious about investment, it's just what you invest in that counts. Aussie Super is proof of that. https://www.australiansuper.com/superannuation.aspx A free plug for my sister's (of 5 Degree's fame) old company that invested in ideas for the future and future products and not selling out the country to the richest 2 percent.
It's when people get greedy and want more than 2% that things go belly-up. Banks make a profit on just 1.2% and that includes wages and putting aside funds for dodgy loans in Thailand. :lol:
You have to invest in infrastructure, people and ideas of the future. Oil is not one. And iron ore won't degrade because it's not taken out of the ground yesterday.
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Re: Money matters

Postby Roger Ramjet » Thu Jan 21, 2016 3:10 pm

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Re: Money matters

Postby pipoz » Thu Jan 21, 2016 10:00 pm

Roger Ramjet wrote:Here's a good example: http://www.abc.net.au/news/2016-01-21/v ... es/7105778


Like it or lump it Roger, the Aussie Dollar moves in sync to the US Dollar. Regrettably our economic trends/outcomes are tied together, so when the USD strengthens the AUS weakens and vice versa.

This in turn effects how many less Baht to the AUS you get, so it is important to anyone who derives income from Australia and then converts it into Thai Baht and not only those with USD based incomes

We (or most of us) live in a world, where currency downturns do effect our way of life and futures. And converting income from one source into another (in this case into Thai Baht) is important to some.

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Re: Money matters

Postby Roger Ramjet » Fri Jan 22, 2016 12:30 am

pipoz wrote:Like it or lump it Roger, the Aussie Dollar moves in sync to the US Dollar. Regrettably our economic trends/outcomes are tied together, so when the USD strengthens the AUS weakens and vice versa.

This in turn effects how many less Baht to the AUS you get, so it is important to anyone who derives income from Australia and then converts it into Thai Baht and not only those with USD based incomes

Ah Pipoz, not true at all. I recall the Aussie dollar being stronger than the US dollar many times in the past. I could have been greedy and invested in the US dollar and sat on them, knowing they would eventually be worth more than the Aussie dollar, but I didn't.
I could have taken advantage of the 6% annual bond rate market when little Johnny Howard was selling off Australia, but I didn't. As long as my money was going back into Australia that's all I cared about and I was getting my 2% per annum for my retirement.
I could have gone into the short term money market and bought Thai Baht when it was 31 Baht to the Aussie dollar and stashed it, but I didn't. I used the extra to build a house for my daughter that will last a lifetime and save me from constant outlay on maintenance in my old age.
It's a matter of thinking about the future that's all. You can think of that either in terms of wealth (money) or in terms of worry, or lack of it. I'm more than happy the Aussie dollar is at around 26 baht to the dollar, I can live well enough on that in my retirement and know my wife and daughter will be well off in the future, no matter what happens.
With all the FTAs coming into effect or in effect I'm just happy that Australians have a future without the stupidity and greed that has gone on for too long with oil and having to sell iron ore yesterday because it would rot in the ground otherwise and Gina Rhineheart wouldn't be a multi billionaire and able to dictate policy to the politicians. Like the fishing industry I was something for my children to look back on and say "my dad was smart, not rich, but smart, he put me through college and now I have a decent job so I can look after my kids".
Its always been about owning a house in Australia before retirement and I have that here for my wife and daughter...one each free from any mortgages. That's all I've ever wanted.
I guess I wasted money on education. No that's not true, that's also part of the investment in the future.
We have different views on where money should go Pipoz. I invest in the future, you in the here and now.
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Re: Money matters

Postby pipoz » Fri Jan 22, 2016 2:18 pm

Roger Ramjet wrote:
Ah Pipoz, not true at all. I recall the Aussie dollar being stronger than the US dollar many times in the past. I could have been greedy and invested in the US dollar and sat on them, knowing they would eventually be worth more than the Aussie dollar, but I didn't.



That only happened once from early 2011 to mid 2013. when the USD was having a weak run for specific reasons. and at the same time the Australian economy was running strong, so the two economies were heading in different directions, which is rare to say the least. For the past 20 years (excluding that early 2011 to mid 2013 period) the Aussie dollar has primarily reacted to the USD.

Granted not all currencies reflect the USD trend, as each country has other factors and internal economic issues that impact on its currency direction at the time, but in the last five years as the US economy has strengthened, the
CAD has loss nearly 35% against the USD, down fro 1.05 in 2011 to 0.69 today
AUD has loss nearly 37% against the USD, down fro 1.09 in 2011 to 0.69 today
GBP has loss nearly 17% against the USD, down fro 1.66 in 2011 to 1.42 today
EUR has loss nearly 25% against the USD, down fro 1.48 in 2011 to 1.09 today
CHF has loss nearly 24% against the USD, down fro 1.31 in 2011 to 1.00 today OK they depegged
SGD has loss nearly 17% against the USD, down fro 0.83 2011 to 0.69 today

These are all major and medium trading currencies, which have all devalued relative to the strength of the USD over the past 5 years, so yes I would say its a Trend on currencies weakening against the USD, at lease since 2011

Re the "With all the FTA's coming into effect or in effect.............". If by that you are including Free Trade Agreement such as the TPP, that Australia signed up to, sorry, but the TTP is a "Joke". Other Free Trade Agreements may assist Australia but not the TPP (Trans Pacific Partnerships).

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Re: Money matters

Postby Roger Ramjet » Fri Jan 22, 2016 3:26 pm

pipoz wrote:Re the "With all the FTA's coming into effect or in effect.............". If by that you are including Free Trade Agreement such as the TPP, that Australia signed up to, sorry, but the TTP is a "Joke". Other Free Trade Agreements may assist Australia but not the TPP (Trans Pacific Partnerships).

I know all about the TPP which is why I didn't mention it because it is only partly agreed/disagreed to. Only some dumb as plover politician would think that "agreement/pact" is anything else but that. Gees even Glenn Lazarus and other ex PUP polllies wanted full disclosure about its contents but couldn't get it because of a "Captain's Pick".... a little like little Johnny Howard being the police watch dog of Asia for George Bush at one stage.
The only good thing about that TPP is it won't stand up in the Full Federal Court as the Monk couldn't force the changes to the Trade Act through parliament.
There were other times the Aussie dollar was ahead of the US dollar, but who really cares, as long as the US pays "her" bills and stops increasing the price of the F35 and stays out of the Pacific tuna grounds with its ships, but that also applies to other countries.
You stick with your US dollars, I'm an Aussie I'll stick with my Aussie dollars and hate the pollies.
One of these days the US will run out of credit money printing machines and excuses for printing more, so I'll stick with my Aussie dollars thank you.
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Re: Money matters

Postby MGV12 » Sun Jan 31, 2016 10:19 am

Google UK staff earned average wage of £160,000 each in 2015

Former public accounts committee chair Margaret Hodge says figure shows Google UK is ‘not a back office support operation’

2728.jpg


Google’s 2,300 staff in the UK earned an average wage of £160,000 each last year, despite the group’s insistence that its British operation is a modest outpost of the company’s global empire.

Rest at http://www.theguardian.com/technology/2 ... arned-2015
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Re: Money matters

Postby pipoz » Sun Jan 31, 2016 11:23 am

MGV12 wrote:Google UK staff earned average wage of £160,000 each in 2015

Former public accounts committee chair Margaret Hodge says figure shows Google UK is ‘not a back office support operation’

2728.jpg


Google’s 2,300 staff in the UK earned an average wage of £160,000 each last year, despite the group’s insistence that its British operation is a modest outpost of the company’s global empire.

Rest at http://www.theguardian.com/technology/2 ... arned-2015


And yet the information on the web indicate that the Average UK Salaries in 2014, per year, were as follows
Customer Service 16,525
Bank Clerks 19,908
Lab Technicians 21,168
Carpenters 24,029
Human Resources 28,999
Solicitors 44,787
Senior Police 58,727
MPs 66,396
Airline Pilots 78,492
Chief Execs 117,700

OK so, Mr Average Google is well paid on the above scales.

My guess is on 160,000, Mr Average Google should pay an average of 39% or about 62,400 pounds tax on that leaving Mr Average Google about 97,600 in his pocket or GBP 8,133 per month, before he coughs up for VAT/GST, which is what, another 20% on what he typically spends on a daily basis spends :shock: is that how it works in the UK

I presume the basic cost of say Rent, Education and some Food items are exempt from VAT in the UK :?:

By my calculation Mr Average Google would end up with about GBP 5,333 or USD 7,600 or TB 271,000 per months in his pocket after he had paid his Rent, bought his train ticket, bought his food & a few basic items (inc VAT), for what a 38-40 hours week - and he would be much better off than the real average Joe in the UK.

Doesn't say much for Mr Average Joe in the UK who in 2014 appears to be on around GBP 26,500 per year??

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Re: Money matters

Postby MGV12 » Sun Jan 31, 2016 12:24 pm

pipoz wrote:
MGV12 wrote:Google UK staff earned average wage of £160,000 each in 2015

Former public accounts committee chair Margaret Hodge says figure shows Google UK is ‘not a back office support operation’

2728.jpg


Google’s 2,300 staff in the UK earned an average wage of £160,000 each last year, despite the group’s insistence that its British operation is a modest outpost of the company’s global empire.

Rest at http://www.theguardian.com/technology/2 ... arned-2015


And yet the information on the web indicate that the Average UK Salaries in 2014, per year, were as follows
Customer Service 16,525
Bank Clerks 19,908
Lab Technicians 21,168
Carpenters 24,029
Human Resources 28,999
Solicitors 44,787
Senior Police 58,727
MPs 66,396
Airline Pilots 78,492
Chief Execs 117,700

OK so, Mr Average Google is well paid on the above scales.

My guess is on 160,000, Mr Average Google should pay an average of 39% or about 62,400 pounds tax on that leaving Mr Average Google about 97,600 in his pocket or GBP 8,133 per month, before he coughs up for VAT/GST, which is what, another 20% on what he typically spends on a daily basis spends :shock: is that how it works in the UK

I presume the basic cost of say Rent, Education and some Food items are exempt from VAT in the UK :?:

By my calculation Mr Average Google would end up with about GBP 5,333 or USD 7,600 or TB 271,000 per months in his pocket after he had paid his Rent, bought his train ticket, bought his food & a few basic items (inc VAT), for what a 38-40 hours week - and he would be much better off than the real average Joe in the UK.

Doesn't say much for Mr Average Joe in the UK who in 2014 appears to be on around GBP 26,500 per year??

pipoz


In simplistic terms British workers are highly skilled :) and yet underpaid :( ... whereas Australian workers are simply overpaid. :wink:

Haven't checked the validity of your figures but maybe that's why the UK is much higher on a list of exporters with circa twice the value of Australia. And don't play the 'per capita' card as a high percentage of Australia's export are bounty ... in that you simply need to dig it up! However, if commodity demands globally continue to be low can [or should] you keep those high salaries that result in Australia being high on the list of the most expensive places in the world to live?


https://en.wikipedia.org/wiki/List_of_c ... by_exports

What lies ahead?

https://www.imf.org/external/pubs/ft/we ... pdf/c2.pdf

N.B. I doubt that [except by choice] many of those Google employees or indeed the majority of [salaried] British workers would need to be paying rent.

Just friendly banter Pipoz. :)

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Re: Money matters

Postby Roger Ramjet » Sun Jan 31, 2016 2:27 pm

MGV12 wrote:Google’s 2,300 staff in the UK earned an average wage of £160,000 each last year, despite the group’s insistence that its British operation is a modest outpost of the company’s global empire.

Me thinks there is another court case coming on that Google is an "abusive monopoly" that will cop it a hefty fine in pounds and the UK government is just getting in first, like the EU did, so the judge is under no illusions that Google can afford it.
Just go to Youtube (Google owned) and listen to music for 30 minutes and see how many ads you get hit with out of Thailand compliments of Google. There is nothing friendly about Google, it tracks you all over the internet unless you use Tor and have a secure private mail server, and it does the bidding of the Chinese Govt and lags in dissidents and then claims it's their duty to do so, just like Face book and the other ego boosters.
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Re: Money matters

Postby MGV12 » Fri Feb 05, 2016 2:53 pm

Controversy is a controversial subject: http://www.zerohedge.com/

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Re: Money matters

Postby Roger Ramjet » Fri Mar 11, 2016 9:24 pm

Just a word of warning about car insurance, we have always used Wirayuth (however it's spelt) because they supply a car whilst yours is being fixed, and I have a maximum no claims bonus with them. Today we received a renewal from them for over 17,000 baht for this year (last year it cost just over 12,000) and my wife rang and asked about the no claims bonus which brought it down to just under 16,000 Baht. So my wife rang around and for the same value figure of the car we can get it through Krung Thai Bank for 12,000 with the no claims bonus, which includes 3rd party and comprehensive.
I don't know why it's so expensive but it pays to shop around now.
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Re: Money matters

Postby BKKBILL » Sun Apr 17, 2016 5:57 pm

Is it something they said?

CHINA SAYS "NO DOLLARS" FOR NEW YUAN

In a shocking move likely to crush the US economy overnight, China is refusing to make its new gold-backed Yuan, convertible from or to US Dollars. The new Yuan will be introduced next Tuesday, April 19.

http://bbs.chinadaily.com.cn/forum.php? ... id=1844662
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Re: Money matters

Postby Roger Ramjet » Sun Apr 17, 2016 9:04 pm

BKKBILL wrote:CHINA SAYS "NO DOLLARS" FOR NEW YUAN

And China will pay through the arse because all the banks will do is ask for the amount in Pound, the Euro, Canadian $ or Aussie $ and then add the conversion rate, which China will have to pay. The banks, except Chinese, will be laughing all the way to their vaults.
If China is not backing the Yuan with gold, then what is it backing it with....devaluation every three months.
It will not affect the US in the slightest except to cut Chinese imports.
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Re: Money matters

Postby Roger Ramjet » Sun Apr 17, 2016 10:05 pm

Roger Ramjet wrote:If China is not backing the Yuan with gold, then what is it backing it with..

Just to clarify this statement, China may have trillions in gold, but gold has been a very poor earner over the last few hundred years. In fact it was the primary reason for the US dumping it in the first place, as have Canada; http://www.zerohedge.com/news/2016-03-0 ... erves-left http://dailyreckoning.com/u-s-helping-c ... late-gold/
China is still in the dark ages as far as producing their own commodities, the stuff that goes to the US is carefully checked and is normally made by US firms IE Apple etc. The US has no real reason to rely on a gold index, but China does.
Now if China declared all US companies had to be out of China within a certain time, say one week, then there would be cause for concern on the global banking market, but gold sitting there doing nothing will not make the slightest difference, especially if it's radioactive. :D
Silver is as good as gold over the last 10 years http://www.macrotrends.net/1333/histori ... year-chart
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